The London hard fork after years of work is now a reality.
This milestone introduces essential features to the ecosystem, particularly:
- Burning a portion of #Ether / #ETH,
instead of producing them to pay the miners and - at times - even causing deflationary effects
- Expanding block-size providing better fee transparency and execution reliability to the users
But probably the most significant achievement from a platform perspective is the simple fact that the London hard fork just worked without - so far - obvious issues.
And that means that the #Ethereum dev
community has made an incredibly solid job to lay the ground for the envisaged Merge / ETH 2.0, i.e. the switch to the Proof of Stake consensus mechanism which is expected to reduce its energy
consumption by 99% by end of 2021 / early 2022 ...
... or as Buterin puts it yesterday in a Bloomberg interview: “Definitely makes me more confident about the merge,”
This is a great promise to the Ethereum network way-forward and with this its #smartcontract ecosystem
supporting also #NFT and #Defiprojects
Exiting times, more to come, stay tuned
Write a comment